BUSINESS SEGMENTS

9 Months Ended

Sep. 30, 2012

BUSINESS SEGMENTS

BUSINESS SEGMENTS

3.     BUSINESS SEGMENTS

        Citigroup is a diversified bank holding company whose businesses provide a broad range of financial services to Consumer and Corporate customers around the world. The Company's activities are conducted through the Global Consumer Banking (GCB), Institutional Clients Group (ICG), Citi Holdings and Corporate/Other business segments.

        The Global Consumer Banking segment includes a global, full-service Consumer franchise delivering a wide array of banking, credit card lending, and investment services through a network of local branches, offices and electronic delivery systems and is composed of four Regional Consumer Banking (RCB) businesses: North America, EMEA, Latin America and Asia.

        The Company's ICG segment is composed of Securities and Banking and Transaction Services and provides corporations, governments, institutions and investors in approximately 100 countries with a broad range of banking and financial products and services.

        The Citi Holdings segment is composed of Brokerage and Asset Management, Local Consumer Lending and Special Asset Pool.

Corporate/Other includes net treasury results, unallocated corporate expenses, offsets to certain line-item reclassifications (eliminations), the results of discontinued operations and unallocated taxes.

        The accounting policies of these reportable segments are the same as those disclosed in Note 1 to the Consolidated Financial Statements in the Company's 2011 Annual Report on Form 10-K.

        The prior-period balances reflect reclassifications to conform the presentation in those periods to the current period's presentation. Reclassifications made in the first quarter of 2012 related to the transfer of the substantial majority of the Company's retail partner cards business (which Citi now refers to as "Citi retail services") from Citi Holdings—Local Consumer Lending to Citicorp—North America Regional Consumer Banking. Additionally, certain consolidated expenses were re-allocated to the respective businesses receiving the services.

        The following table presents certain information regarding the Company's continuing operations by segment:

	Revenues, net of interest expense(1)					Provision (benefit) for income taxes						Income (loss) from continuing operations(1)(2)						Identifiable assets
	Three Months Ended September 30,
In millions of dollars, except identifiable assets in billions																		Sept. 30, 2012		Dec. 31, 2011
	2012			2011		2012			2011			2012			2011
Global Consumer Banking	$	10,180		$	9,963	$	1,053		$	931		$	2,164		$	2,013		$	394	$	385
Institutional Clients Group		7,428			9,441		606			1,208			1,977			3,024			1,064		980
Subtotal Citicorp	$	17,608		$	19,404	$	1,659		$	2,139		$	4,141		$	5,037		$	1,458	$	1,365
Corporate/Other		33			300		(675	)		(147	)		(55	)		(74	)		302		284
Total Citicorp and Corporate/Other	$	17,641		$	19,704		984		$	1,992		$	4,086		$	4,963		$	1,760	$	1,649
Citi Holdings		(3,690	)		1,127		(2,472	)		(714	)		(3,562	)		(1,221	)		171		225
Total	$	13,951		$	20,831	$	(1,488	)	$	1,278		$	524		$	3,742		$	1,931	$	1,874

	Revenues, net of interest expense(1)					Provision (benefit) for income taxes						Income (loss) from continuing operations(1)(2)
	Nine Months Ended September 30,
In millions of dollars	2012			2011		2012			2011			2012			2011
Global Consumer Banking	$	29,965		$	29,310	$	3,090		$	2,677		$	6,342		$	5,952
Institutional Clients Group		23,658			26,184		1,977			2,983			6,530			7,629
Subtotal Citicorp	$	53,623		$	55,494	$	5,067		$	5,660		$	12,872		$	13,581
Corporate/Other		268			502		(1,093	)		(593	)		(794	)		(687	)
Total Citicorp and Corporate/Other	$	53,891		$	55,996		3,974		$	5,067		$	12,078		$	12,894
Citi Holdings		(1,892	)		5,183		(3,741	)		(1,637	)		(5,505	)		(2,789	)
Total	$	51,999		$	61,179	$	233		$	3,430		$	6,573		$	10,105

(1)

Includes Citicorp total revenues, net of interest expense, in North America of $7.4 billion and $8.1 billion; in EMEA of $2.8 billion and $3.6 billion; in Latin America of $3.7 billion and $3.4 billion; and in Asia of $3.7 billion and $4.3 billion for the three months ended September 30, 2012 and 2011, respectively. Includes Citicorp total revenues, net of interest expense, in North America of $22.4 billion and $23.8 billion; in EMEA of $8.9 billion and $9.8 billion; in Latin America of $10.8 billion and $10.2 billion; and in Asia of $11.5 billion and $11.7 billion for the nine months ended September 30, 2012 and 2011, respectively. Regional numbers exclude Citi Holdings and Corporate/Other, which largely operate within the U.S.

(2)

Includes pretax provisions (credits) for credit losses and for benefits and claims in the GCB results of $1.6 billion and $1.6 billion; in the ICG results of $(32) million and $164 million; and in the Citi Holdings results of $1.2 billion and $1.6 billion for the three months ended September 30, 2012 and 2011, respectively. Includes pretax provisions (credits) for credit losses and for benefits and claims in the GCB results of $4.6 billion and $4.9 billion; in the ICG results of $192 million and $70 million; and in the Citi Holdings results of $3.7 billion and $5.0 billion for the nine months ended September 30, 2012 and 2011, respectively.